Kamps, Inc. 401(k) Review & Grade
Kamps Retirement Savings Plan
Grand Rapids, MIManufacturing3,272 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$772Employer $ per active participant
$1,399Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$54.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity4.2 / 508th percentile for employer $ per participant
- Low cost3.7 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving0.5 / 153th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score11 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 15th |
| Employee saving | 3th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Kamps put in about $772 per active participant, below the typical peer ($3,452). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.43% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $2,525,734 |
| Participant (employee) contributions | $4,577,152 |
| Other contributions (incl. rollovers in) | $330,752 |
| Administrative expenses paid from the plan | $223,563 |
| Contract administrator fees | $223,563 |
| Benefits paid out | $8,027,009 |
| Net assets, start / end of year | $48.9M / $54.4M |
| Active participants, start / end of year | 3,290 / 3,253 |
| Participants with account balances | 889 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kaptein, Dykstra & Company, P.C. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $223,563 reported compensation |
| Private Advisor Group LLC | $89,871 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008112225NAL0002957619001, received 2025-10-08, EIN 38-2235224, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.